Business & Investment

Staffing and hiring are major challenges for real estate managers today.

Seventy-four percent of respondents to the National Apartment Association survey said that in 2021, personnel, staffing, and recruitment issues will be one of the top three challenges.

Property managers have spent years of trials, to say the least, in constant turmoil. Evacuation MoratoriumDealing with rent delinquency, surrounding bureaucratic formalism Rental support more.

In 2021, recruiting and retaining staff will be the biggest challenge for real estate managers, with 74% of respondents National Condominium Management Companies Association (NAA) Survey Sponsored by property management software company AppFolio, HR, staffing and recruitment are listed as one of the top three challenges. Half of the survey respondents also said this was their no. One challenge this year.

In this survey, economic consulting firms ntp analytics and NAA collected responses from more than 1,000 property management professionals through an online survey conducted in July and August 2021.

“In general, the industry is addressing labor market challenges, regardless of the type or location of the rental property,” said Paul Manger, vice president of industry research and analysis at NAA, in a statement. “And companies are embracing solutions that range from using technologies such as virtual tours and leasing to traditional approaches such as cross-training and hiring more recruiters, and the industry’s path to the future. As we continue to show, all stakeholders can learn from these decisions and continue to grow. “

Human resources development, human resources dispatch, Recruitment, Survey respondents said that attracting new people, training new employees quickly, and reducing turnover are the biggest challenges.

Credit: NAA

“Employees are exhausted from COVID-19,” said one survey respondent. “They are demanding higher wages. Hiring is very difficult. Recruiting maintenance is very difficult. Salary demand is high. Morale is challenging due to lack of staff and rising expectations from residents. The phone rings and I can’t keep up with the satisfaction of customer service and wanting an answer right away. “

Maximizing operational efficiency, profits and profits was the next most difficult issue faced by real estate managers in 2021.

Operational efficiency was one of the top three issues for 62.8% of survey respondents, and overall the top issue for 10.2% of respondents. On the other hand, nearly half of the respondents said that maximizing revenue and profits was one of the top three issues, with 47.6%, and 13.7% was the biggest issue.

In terms of operational efficiency, real estate managers said they would find quality vendors, find solutions that would free their teams from labor-intensive tasks, and reduce costs on the biggest challenge in this category.

On the other hand, in terms of maximizing profits and profits, increasing net operating income, reducing debt losses and developing their debt reduction plans, and returning real estate performance to pre-pandemic levels are the top three in this category. It was an issue.

Finally, NAA research The findings suggest that real estate managers prioritize technology solutions to standardize and streamline processes such as hiring and training, workflows, and customer experiences to combat these challenges.

Stacy Holden, Senior Director and Industry Principal of AppFolio, said in a statement: “Materials are becoming more expensive and profit margins are declining. But with the right technology, we can counter this. Navi in ​​an era where technology and continuous agility are uncertain. We’ve seen the impact on gates, but there’s a lot we can do to support our real estate management team. “

Mail Lillian Dickerson

Staffing and hiring are major challenges for real estate managers today. Staffing and hiring are major challenges for real estate managers today.

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